4 good reasons (*) to invest time, resources and money in social media
DESCRIPTION
My slides for my session at Vlerick Management School and InSites' "Share Your Honey" event on 14 October, a one-day conference and follow-up workshop on the role of social media.TRANSCRIPT
4 good reasons (*) to invest time, resources and money in
social media
Clo Willaerts
14 October 2010
Vlerick, Brussels
(*) = and one bad one
About.me/clo
Social Media KPIs
”Social media KPIs are, by necessity, a little fuzzier”
(Social Media Metrics, Jim Sterne 2010)
Technology
Is this your target group?
Brand perception & awareness
“Without the behaviors that deliver real results, your branding is only a hope wrapped in a desire inside a fantasy”
(Branding only works on cattle, Jonathan Salem Baskin 2008)
Objectives & media
• Objectives: reflect your brand and its values in all of your social media assets.
• Paid Media– branded web videos– branded contests– branded casual games
• Owned Media: include your company website, corporate blog, magazine, email newsletters
• Earned Media: organic coverage about your brand on television, radio, blogs, video sites, etc
Paid media
Paid media
Owned media
Robb’s law of weblog hosting:
NEVER (under any circumstances) publish a weblog to a domain that you don't control.
- John Robb
Earned media
Robb’s Law
Traffic & audience
• if– your own website (on your own domain) =
your web publishing home base– your social media real estate = satellites of
this home base
• then– how do you use social media to drive traffic to
your site(s)?
Paid media
• Search Engine Advertising (SEA) • Social Media Advertising (SMA)
– could base its ads on social data - both that of the one who sees the ad, and his or her “social graph”
– self service advertising: Facebook Ads, LinkedIn DirectAds, YouTube Advertising.
– sales house: Netlog, Skyrock, Hyves, Flickr, Twitter Promoted Tweets, Adhese's Enchanté
Owned media & metrics
• Owned media: do not underestimate the power of the weekly newsletter
• Metrics:– quantitative: Unique Visitors and Pageviews
(usually daily or monthly average)– qualitative: time spent on site, pageviews per
visitor, most popular content
Relationship Marketing
“As defined by the dictionary, a relationship is “an emotional or other connection between people.” Not between a person and a company avatar. Not between a person and an automated response. People to people.”
Humanizing the organization, Lauren Vargas, Radian6
Objectives
• to establish a closer relationship with your customers/prospects
• to identify new customers and prospects
• to increase customer retention
• to be more able to receive customer feedback
Paid & owned media
• Paid Media– Social Media Advertising (SMA) to grow your fan base– Promotions or giveaways– Black hat: “fan farms”
• Owned Media: – brand pages, groups, applications, channels, etc you
created in Facebook, Youtube, Twitter, etc. – (theoretically) all events, photos, videos, status
updates, and notes you post on these platforms
Facebook's Statement of Rights and Responsibilities
For content that is covered by intellectual property rights, like photos and videos ("IP content"), you specifically give us the following permission, subject to your privacy and application settings: you grant us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content that you post on or in connection with Facebook ("IP License"). This IP License ends when you delete your IP content or your account unless your content has been shared with others, and they have not deleted it.
Earned Media
• any media that were produced by people who have somehow expressed not only an interest in what your company does, but also a desire to start and maintain a longer term relationship.– not: the amount of followers, fans, friends,
contacts, subscribers– but: shares, comments, ratings, retweets,
remixes, likes, parodies and spoofs.
Metrics example: FB Insights
Sales and lead generation (aka conversion)
“Cold calling [...] will become less prominent. Rather than pick up the telephone and call someone we have never contacted, we will pick up the telephone and call someone with whom we have had an established relationship via Twitter or Linkedln.”
(“The New Handshake”, by Joan C. Curtis, Barbara Giamanco 2010)
Objectives
• lead generation
• to increase sales of existing products
• to introduce new products
• to enter new geographic markets
Metrics
traffic -> leads -> prospects -> sales
• Leads generated: any sign-ups from people that include contact information and in some cases, demographic information.
• Prospects: any requests from people to sample or try out your product or service.
• Sales: if it’s hard to track individual sales, your metrics could be reduced to trends in average order size per channel or per time slot.
#1 reason: to receive discounts and promotions
Accessing coupons posted on Facebook often require that you become a fan of the company by pressing their "Like" button.
